To amend the Internal Revenue Code of 1986 to allow a credit against income tax for the purchase of
hearing aids.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1.Short title.

This Act may be cited as the "Hearing Aid Assistance Tax Credit Act 2015".

SEC. 2. Credit for hearing aids.

(a) In general.—Subpart A of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to nonrefundable
personal credits) is amended by inserting after section 25D the
following new section:

"SEC. 25E. Credit for hearing aids.

"(a) Allowance of credit.—In
the case of an individual, there shall be allowed as a credit against
the tax imposed by this chapter an amount equal to the amount paid
during the taxable year, not compensated by insurance or otherwise, by
the taxpayer for the purchase of any qualified hearing aid.

"(A) IN GENERAL.—In
the case of a taxpayer whose modified adjusted gross income exceeds
$200,000 for any taxable year, the amount allowed as a credit under
subsection (a) for such taxable year shall be zero.

"(B) MODIFIED ADJUSTED GROSS INCOME.—For
purposes of this paragraph, the term 'modified adjusted gross income'
means the adjusted gross income of the taxpayer for the taxable year
increased by any amount excluded from gross income under section 911,
931, or 933.

"(d) Election once every 5 years.—This
section shall apply with respect to any individual for any taxable year
only if there is an election in effect with respect to such individual
(at such time and in such manner as the Secretary may by regulations
prescribe) to have this section apply for such taxable year. An election
to have this section apply with respect to any eligible individual may
not be made for any taxable year if such an election is in effect with
respect to such individual for any of the 4 taxable years preceding such
taxable year.

"(e) Denial of double benefit.—No
credit shall be allowed under subsection (a) for any expense for which a
deduction or credit is allowed under any other provision of this
chapter.".

(b) Clerical amendment.—The
table of sections for subpart A of part IV of subchapter A of chapter 1
of such Code is amended by inserting after the item relating to section
25D the following new item:

"Sec. 25E. Credit for hearing aids.".

(c) Effective date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2014.